IT services firm Cambridge Tech Invests Rs 8 cr in US Based Photo Sharing Platform PhotoKarma
Hyderabad based IT services firm Cambridge Technology has invested Rs 8 crore ($1.3 million) in US-based automated photo-sharing platform PhotoKarma. Idealab, Bessemer and New York Angels are also participated in this investment round.
Before this investment Cambridge Tech has also invested in MyCrowd, a crowd-testing platform for website and mobile applications.
The investments is aim to create a potential market for CTE's solutions on big data analytics and cloud services. The fund typically participates in the seed stage with a commitment of close to $250,000.
"Our focus is on investing in 12 US-based and Indian startups by March 2017 as a means of incubating our clients as well as helping these companies with delivery so that they can focus on marketing and financing challenge...